Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT:
0AD) (“Anfield” or “the Company”) is pleased to
announce that Anfield has engaged BRS Engineering (“BRS”) to
complete a mineral resource report for the Taylor Ranch ISR project
(“Taylor Ranch”). Taylor Ranch is one of the 25 uranium mining
properties held by the Company in the Black Hills, Powder River
Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind
River Basin areas of Wyoming.
Corey Dias, Anfield CEO, states, “Given the
strengthening global sentiment related to the uranium market, we
are pleased to update and further delineate another uranium
resource from amongst the 25 uranium projects acquired in Wyoming.
This will be only the fifth NI 43-101 resource report commissioned
for our Wyoming projects, so there is significant potential
pipeline of uranium resource available to us within our current
portfolio. Importantly, Anfield remains on course to deliver on its
strategy of creating a long-term viable uranium production complex
in Wyoming as a vital part of its portfolio of U.S. uranium
assets.”
Anfield also announces that it has granted
14,750,000 incentive stock options to certain directors, officers,
employees and consultants of the Company at a price of $0.12 with a
five-year terms expiring on August 4, 2026.
About The Taylor Ranch
Project
The Taylor Ranch Project is
located in the Powder River Basin Uranium District in portions of
Campbell, Converse, and Johnson Counties, Wyoming. Mineral rights
at the Taylor Ranch Project include mining claims, Wyoming State
leases, and private leases totaling some 5,620 acres.
Regional exploration drilling programs were
conducted in the 1970’s by the American Nuclear-Tennessee Valley
Authority partnership, Conoco Minerals, and Kerr McGee. During this
time ISR was not a common mining practice for the recovery of
uranium and the discovery of shallower mineralization on the nearby
Moore Ranch became the focus exploration to the detriment of deeper
deposits such as Taylor Ranch. Subsequently, Power Resource Inc.
began property acquisition at Taylor Ranch in 1993 and later formed
a joint venture with Cotter Corp. A 1996 internal summary report by
PRI titled “Properties, Ore Reserves and Resources”, states the
“Wide spaced exploration has intercepted ore grade mineralization
and defined several thousand feet of mineralized roll fronts
systems at depths of 800 to 1,000 feet.”
In 2007-2008 Uranium One drilled 224 rotary
drill holes with a total footage of 203,525, at a cost of
approximately $694,000 US, on the Taylor Ranch Project. An internal
report titled “Taylor Ranch Drilling Report” dated May 15, 2008,
provides a summary of drilling results. Uranium One did not
complete a 43-101 compliant mineral resource estimate for the
Taylor Ranch Project. Drilling identified mineralized trends in the
30, 40, 50, 60, and 70 sandstone units of the Wasatch Formation
with the majority of higher grade intercepts in the 30 and 40 sand
units. Drill results are summarized in the following table.
Taylor Ranch |
Footage |
Total Holes |
GT > 0.5 |
GT 0.25-0.5 |
GT 0.1-0.25 |
Anomalous |
Sept ’07 – Jan ‘08 |
203,525 |
224 |
25 |
24 |
37 |
138 |
Anfield considers these estimates to be
historical in nature and cautions that a qualified person has not
done sufficient work to classify the historical estimate as current
mineral resources or mineral reserves and Anfield is not treating
the historical estimate as current mineral resource or mineral
reserves.
About BRS
BRS, Inc. is an engineering and geology
consulting corporation with expertise in mining and mineral
exploration. Of particular note, it specializes in uranium
exploration, mineral resource evaluation, mine design, feasibility,
mine operations, and reclamation. It has completed numerous uranium
projects including technical reports and feasibility studies for
underground, open pit, ISR, and conventional uranium mills.
Representative projects include technical reports and due diligence
for project financing for conventional uranium projects including
the Sheep Mountain Project in Wyoming, the Marquez/Juan Tafoya
Project in New Mexico, the Coles Hill Project in Virginia, and
numerous ISR uranium projects in Wyoming, Texas and Paraguay.
Douglas L. Beahm, P.E., P.G., the principal
engineer at BRS, is a Qualified Person as defined in NI 43-101 with
more than 45 years of professional and managerial experience. Mr.
Beahm has a proven track record in a variety of mining and mine
reclamation projects including surface and underground mining, heap
leach recovery, ISR, and uranium mill tailings projects. Mr.
Beahm’s experience includes coal, precious metals, and industrial
minerals, but his emphasis throughout his career has been on
uranium. Mr. Beahm has reviewed and approved the technical content
of this news release.
About Anfield
Anfield is a uranium and vanadium development
and near-term production company that is committed to becoming a
top-tier energy-related fuels supplier by creating value through
sustainable, efficient growth in its assets. Anfield is a
publicly-traded corporation listed on the TSX Venture Exchange
(AEC-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock
Exchange (0AD). Anfield is focused on two asset centers, as
summarized below:
Wyoming – Resin Capture and Processing
Agreement
Anfield has signed a Resin Capture and
Processing Agreement with Uranium One whereby Anfield would process
up to 500,000 pounds per annum of its mined material at Uranium
One’s Irigaray processing plant in Wyoming.
The Charlie Project, Anfield’s flagship uranium
project, is located in the Pumpkin Buttes Uranium District in
Johnson County, Wyoming. The Charlie Project consists of a 720-acre
Wyoming State uranium lease which has been in development since
1969. An NI 43-101 Preliminary Economic Assessment has been
completed for the Charlie Project.
Anfield’s 24 ISR mining projects are located in
the Black Hills, Powder River Basin, Great Divide Basin, Laramie
Basin, Shirley Basin and Wind River Basin areas in Wyoming.
Anfield’s three projects in Wyoming for which NI 43-101 resource
reports have been completed are Red Rim, Nine Mile Lake and
Clarkson Hill.
Arizona/Utah/Colorado – Shootaring
Canyon Mill
Another asset in Anfield’s portfolio is the
Shootaring Canyon Mill in Garfield County, Utah. The Shootaring
Canyon Mill is strategically located within one of the historically
most prolific uranium production areas in the United States, and is
one of only three licensed, permitted and constructed conventional
uranium mills in the United States.
Anfield’s conventional uranium assets consist of
mining claims and state leases in southeastern Utah, Colorado and
Arizona, targeting areas where past uranium mining or prospecting
occurred. Anfield’s conventional uranium assets include the
Velvet-Wood Project, the Frank M Uranium Project, the West Slope
Project as well as the Findlay Tank breccia pipe. An NI 43-101
Preliminary Economic Assessment has been completed for the
Velvet-Wood Project. The PEA is preliminary in nature, and includes
inferred mineral resources that are considered too speculative
geologically to have economic considerations applied to them that
would enable them to be categorized as mineral reserves, and there
is no certainty that the preliminary economic assessment would be
realized. All conventional uranium assets are situated within a
200-mile radius of the Shootaring Mill.
On behalf of the Board of DirectorsANFIELD
ENERGY INC.Corey Dias, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contact:Anfield Energy, Inc.Clive
MostertCorporate
Communications780-920-5044contact@anfieldenergy.com www.anfieldenergy.com
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STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY
HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY
STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS
REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED
HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN
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AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT
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INCLUDE RISKS ASSOCIATED FUTURE CAPITAL REQUIREMENTS AND THE
COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND
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COMPANY’S EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY WILL
ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING
STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE
COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING
STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD
DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS.
ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS
AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE
CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR
INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL
OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE
RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM
TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY
MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS
CONTENTS.
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